RBI’s Wholesale CBDC to Revolutionize Deposit Systems Starting October 8

The Reserve Bank of India (RBI) is set to launch a pilot for deposit tokenisation on October 8, leveraging the wholesale leg of the Central Bank Digital Currency (CBDC) as the underlying layer. The RBI is collaborating with select banks to facilitate this innovative approach aimed at enhancing transaction efficiency, transparency, and liquidity management. This pilot marks a major step in expanding India’s CBDC ecosystem beyond government securities to deposit-related digital assets, bolstering the digital payments landscape.

 

Wholesale CBDC Usage

Deposit Tokenisation Pilot

Strategic Benefits

Future Outlook

Sources: RBI official statements, Fintech Futures, PIB India, Economic Times, Moneycontrol